Dr. Reddy’s Laboratories (NYSE:RDY) Shares Gap Up to $72.03

Dr. Reddy’s Laboratories Limited (NYSE:RDY)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $72.03, but opened at $73.60. Dr. Reddy’s Laboratories shares last traded at $74.28, with a volume of 13,691 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on RDY shares. Barclays raised their target price on shares of Dr. Reddy’s Laboratories from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. StockNews.com lowered shares of Dr. Reddy’s Laboratories from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 16th.

Dr. Reddy’s Laboratories Trading Up 4.1 %

The stock has a market cap of $12.52 billion, a PE ratio of 18.20, a price-to-earnings-growth ratio of 1.61 and a beta of 0.52. The company’s 50-day moving average price is $71.16 and its 200 day moving average price is $71.72. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.92 and a current ratio of 2.58.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its earnings results on Tuesday, May 7th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.08. The company had revenue of $850.00 million for the quarter, compared to the consensus estimate of $825.20 million. Dr. Reddy’s Laboratories had a return on equity of 21.32% and a net margin of 19.97%. On average, sell-side analysts forecast that Dr. Reddy’s Laboratories Limited will post 4.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Dr. Reddy’s Laboratories

Institutional investors have recently made changes to their positions in the stock. Panagora Asset Management Inc. grew its position in Dr. Reddy’s Laboratories by 47.5% in the 4th quarter. Panagora Asset Management Inc. now owns 119,794 shares of the company’s stock valued at $8,335,000 after acquiring an additional 38,602 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Dr. Reddy’s Laboratories by 8.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 115,499 shares of the company’s stock worth $8,036,000 after acquiring an additional 9,414 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Dr. Reddy’s Laboratories by 3.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 14,294 shares of the company’s stock worth $995,000 after acquiring an additional 501 shares during the period. Wellington Management Group LLP raised its stake in shares of Dr. Reddy’s Laboratories by 40.7% in the third quarter. Wellington Management Group LLP now owns 141,154 shares of the company’s stock valued at $9,439,000 after acquiring an additional 40,825 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in Dr. Reddy’s Laboratories by 125.8% during the 4th quarter. Fisher Asset Management LLC now owns 204,672 shares of the company’s stock worth $14,241,000 after purchasing an additional 114,022 shares in the last quarter. 14.02% of the stock is currently owned by institutional investors and hedge funds.

Dr. Reddy’s Laboratories Company Profile

Dr. Reddy's Laboratories Limited, together with its subsidiaries, operates as an integrated pharmaceutical company worldwide. It operates through Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others segments. The company's Global Generics segment manufactures and markets prescription and over-the-counter finished pharmaceutical products that are marketed under a brand name or as a generic finished dosages with therapeutic equivalence to branded formulations.